This is not legal advice but just my experience with creating a couple of LLCs recently. Thought it might be helpful perspective for others.
1) I setup an LLC towards the end of last year for the purposes of my search. I used a well-known online service to do this and now have serious buyers remorse! It's not much money in the scheme of things (about $400 out of pocket) but they also charge you that recurring fee each year for that amount. The scammiest part of this in retrospect is the EIN charge of $100. I recently went to the IRS website and this is at the top of the page where you apply for an EIN on IRS.gov. "Applying for an Employer Identification Number (EIN) is a free service offered by the Internal Revenue Service. Beware of websites on the Internet that charge for this free service."
2) I setup another LLC this morning for my wife, who recently started her own business. Took me maybe 20 minutes on Missouri's website and a grand total of $50. Could not have been easier.
Your mileage may vary but I would never pay an online service to setup an LLC in the future.
LLC formation
![](https://55550cf88fb9105859d2-ecc273435fde99d2e690dfef78341117.ssl.cf5.rackcdn.com/img/defaultprofile.png)
by a searcher from University of California, Berkeley - Haas School of Business
More on Searchfunder
Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.
343 views
28 comments
Sign in to see all replies.
Create an account.